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Wednesday, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
 The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obvious negative influence on the market, decelerating the “positive” movement of the other dry bulker segments. Although average freight rates have improved considerably compared to average levels of Q3, they are still well below expectations built up before the last quarter. It is clear by now that this bitter taste will usher us into the New Year as well. Under the current freight environment and with rates looking unable to bounce back up for longer periods, it seems that investment interest is scaling back currently.
In the New Building sector, the very strong 2013 in terms of orders and the equally strong beginning of this year as well, originally allowed Shipbuilders to become more relaxed as their slots were fully booked for 2015 and the 1st half of 2016. As the last quarter of 2014 is nearing to its end, the lack of demand for securing new slots and the increasing number of non-effective orders has changed sentiment dramatically though, pushing yards to become more accommodating in their price expectations and even offer substantial discounts in certain cases. As a matter of fact, Top Chinese shipyards are currently willing to offer Ultramax and Kamsarmax slots at USD 27.0m and USD 29.0m respectively, but even prices like that are considered too expensive to attract the attention of owners who could be considering a newbuilding order. In the same spirit, resale candidates are also facing lack of interest as the current freight market is not tempting enough for an owner to pay the premium.
At the same time, the downward correction of demolition prices during the past weeks by more than $50/$60 per long ton, has had an immediate effect on older assets, although given the highs demo prices reached this year, even after such corrections, the current levels of $430/$440 per long ton, offered in the Indian sub-Continent for dry bulk units are still relatively attractive. Therefore vessels built up to 1995 are currently in the market for scrap related prices, with small differentiations relative to their size, SS/DD position and delivery place. Tonnages built within the first decade of 2000 enjoy the most interest, while at the same time these vessels present heavily corrected prices, which are comparable to 2012 levels.
The softening of Japan’s currency has simultaneously brought additional sale candidates in the market, with buyers concentrating in modern Japanese built tonnage with the view that a quick profit could be locked by what looks like another mini-cycle in terms of asset values. As evidenced by the table above table, vessels prices are very close to bottom levels reached back in the December 2012 – January 2013 period, while the freight market has been fairing at better levels compared to that period, possibly implying opportunities to be found in the second-hand market.
By Konstantinos Kontomichis, SnP Broker, Intermodal
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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Showing 3421 to 3425 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
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